The Nifty ended 75 points lower, while the Sensex was down by 322 points.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, 5 January 2026: Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ended 75 points lower, while the Sensex was down by 322 points. Among sectors, the Reality and Defence indices outperformed, rallying over 2 percent, whereas the IT index lost the most, shedding over 1.5 percent. Technically, after an early morning intraday rally due to profit booking at higher levels, the market corrected sharply. However, the short-term market outlook remains positive. Additionally, on daily and intraday charts, the market is holding a higher bottom formation that also supports a further uptrend from the current levels.
We are of the view that 26,150/85,200 and 26,100/85,000 remain key support zones. As long as the market is trading above these levels, the bullish sentiment is likely to continue. On the higher side, 26,350/85,700 and 26,400/85,850 are immediate resistance zones for the bulls. However, below 26,100/85,000, the uptrend could become vulnerable. The intraday market texture is volatile; hence, level-based trading would be the ideal strategy for day traders.
Gaurav Garg, Research Analyst Lemonn Markets Desk, reports:
Indian equity benchmarks ended lower on Monday after paring early gains, as selling pressure in IT stocks and heightened geopolitical concerns weighed on sentiment. The Sensex slipped 404 points to around 85,358 and the Nifty declined to 26,225, despite both indices touching fresh record highs earlier in the session.
Losses were led by IT heavyweights such as HCL Technologies, Infosys and Wipro, following cautionary brokerage commentary and concerns over potential US tariff actions, while select defensives like Bharat Electronics and Nestle provided limited support. Geopolitical uncertainty and a slightly weaker rupee added to investor caution. Technically, elevated volatility suggests near-term consolidation, with resistance seen around the 26,380–26,550 zone on the Nifty and immediate support near 26,288.
